The rise of solidarity economy initiatives charts a new third way between capitalism and communism

[marmar]

from OnTheCommons.org:



An Economy that Works for Everyone
The rise of solidarity economy initiatives charts a new third way between capitalism and communism

By Kevin Karner


The New York Times ran an article summarizing a recent report from the Bureau of Economic Analysis at the US Department of Commerce; apparently “American (private) businesses earned profits at an annual rate of $1.659 trillion in the third quarter,” the highest dollar amount on record. Earlier this year, the US Census Bureau reported that 2009 saw the income disparity between American citizens the highest ever recorded.

Something has gone wrong; the invisible hand of global capitalism, the one that was supposed to lift all boats, has instead lined the pockets of transnational corporations at the expense of the financial security of everyone else, both in industrialized and non-industrialed societies.

Even after the worldwide repercussions of the housing bubble and economic crisis, neoliberal economics remain the guiding principle of policymaking behind the closed doors of institutions such as the International Monetary Fund, World Trade Organization and the governments of wealthy nations. This means the concentration of wealth in a few hands and the outsized influence of transnational corporations will continue.

But such is life in our democracy, a choice between two sides of the same coin, where the global commerce is organized by the dichotomous systems Market (driver of productivity) and State (control mechanism): capitalism or communism, run by the invisible hand or state bureaucrats. The choice is simple—the Soviet Union collapsed, did it not? .............(more)

The complete piece is at: http://onthecommons.org/economy-works-everyone

[Jackpine Radical]

1. Yes!

This is how we need to be thinking.

[glinda]

2. Sounds good with the exception of the possible hijacking of the wordage by

Tea Party (mantra of self governing) backed by Corporate hoods. Self governing unchecked leads to chances of more ecological damage or strife.